Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.008%
Price spread now: Bybit against BingX−0.037%7-day average +0.042% · you buy dearer than you sell
Net, funding: paid 7d − costs−$152as in the Funding arb table
Net, price: spread back to 7d avg − costs−$164as in the Price arb table
costs, in and out, $10k−$1561.559% of the position
Funding, last 7 days+0.034%+$3 on $10k
+Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.037%, 7d avg +0.042%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.079% cheaper against BingX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.042%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX COW-USDT | 0.1603 | 0.0100 | pay 0.0050% / 4h | 1h 31m | — | $6.6M | — |
| Short | Bybit COWUSDT | 0.1602 | 0.0100 | get 0.0050% / 4h | 1h 31m | $981K | $467K | 25x |
BingX COW-USDT
Bybit COWUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against BingX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0
- Price spread: −0.037% → +0.042%
- −$7.94
- Slippage, 4 orders
- −$134.87
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$163.81
- Costs to cover
- 1.559%
- Break-even
- never at this rate
Slippage from BingX: live order book, 13 min ago; Bybit: live order book, 12 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy BingX live order book, 13 min ago | 9.36 bp | 29.6 bp −$30 | 100.4 bp −$1,004 | 577.9 bp −$57.8K | 876.2 bp −$438.1K |
| Sell Bybit live order book, 12 min ago | 4.36 bp | 51.0 bp −$51 | 120.1 bp −$1,201 | doesn't fit | doesn't fit |
COW on 11 exchanges
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin COW-USDT | +0.0048% | 4h | 0.1598 | −0.312% | $135K | $31K | 75x | as long as short |
| Aster COWUSDT | +0.0100% | 4h | 0.1602 | −0.059% | $30K | $11K | 5x | as long as short |
| Binance COWUSDT | +0.0100% | 4h | 0.1603 | −0.028% | $2.1M | $3.0M | 50x | as long as short |
| Bybit COWUSDTshort | +0.0100% | 4h | 0.1602 | −0.037% | $981K | $467K | 25x | |
| Gate COW_USDT | +0.0100% | 4h | 0.1603 | 0.000% | $122K | $67K | 50x | as long as short |
| MEXC COW_USDT | +0.0100% | 4h | 0.1601 | −0.125% | $575K | $204K | 20x | as long as short |
| KuCoin COWUSDTM | +0.0100% | 4h | 0.1602 | −0.062% | $216K | $37K | 20x | as long as short |
| Bitget COWUSDT | +0.0100% | 4h | 0.1602 | −0.062% | $378K | $206K | 50x | as long as short |
| BingX COW-USDTlong | +0.0100% | 4h | 0.1603 | long leg | — | $6.6M | — | |
| Variational Omni COW | +0.0100% | 4h | 0.1603 | +0.021% | $8K | $3K | — | as long as short |
BloFin COW-USDT
Aster COWUSDT
Binance COWUSDT
Gate COW_USDT
MEXC COW_USDT
KuCoin COWUSDTM
Bitget COWUSDT
Variational Omni COWShow all 11 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_COWUSD | +0.0512% | 1h | 0.1603 | +0.019% | $5K | $199 | 10x | as long as short |
Kraken Futures PF_COWUSD